Barings Global Short Duration High Yield Fund
(Ticker:BGH)
as of 04/20/2021
as of 03/31/2021
(Share Price)
as of 03/31/2021
About the Fund
The Barings Global Short Duration High Yield Fund seeks to generate as high a level of current income as we determine is consistent with capital preservation, and seeks capital appreciation as a secondary objective. The Fund expects to maintain a weighted average portfolio duration of three years or less and a weighted average portfolio maturity of five years or less.
Barings' strength in fundamental credit analysis and deep expertise across the global fixed income spectrum underpins the Fund’s strategy, allowing portfolio managers to identify relative-value opportunities between geographies, primarily the North American and Western European high yield bond and loan markets. For example, the Fund will seek to take advantage of differences in pricing between bonds of an issuer denominated in U.S. dollars and substantially similar bonds of the same issuer denominated in euros, potentially allowing the Fund to achieve a higher relative return for the same credit risk exposure.
1The Distribution Rate is based on the Fund’s most recent monthly distribution, annualized and divided by the Fund’s month-end Share Price or NAV.
Strategy
- Fund will invest at least 80 percent of its managed assets2 in corporate bonds, loans and other income-producing instruments that are rated below investment grade
- Fund may invest up to 50 percent of its managed assets in bonds and loans issued by foreign companies
- Seek to maintain a weighted average portfolio duration of three years or less
2”Managed Assets” are the total assets of the Fund (including assets attributable to leverage) minus the sum of the Fund’s accrued liabilities (other than liabilities incurred for the purpose of leverage).
Fund Information
as of 03/31/2021Total Assets | $531 |
Inception Date | 10/25/2012 |
Dividend Reinvestment | Yes |
Primary Exchange | NYSE |
Ticker | BGH |
Fund Data
as of 04/20/2021Net Asset Value (NAV) | $17.61 |
Total Net Assets | $353,418,561 |
Premium / (Discount) to NAV | -6.98% |
Dividend Frequency | Monthly |
The Fund strikes its net asset value (NAV) on a monthly basis at month-end. Intramonth NAV calculations are estimated.
Definitions: Net Asset Value (NAV) is total assets less total liabilities, divided by the number of shares outstanding. Share Price is the closing price of a closed-end fund on the New York Stock Exchange (NYSE), as of the trading day noted. Premium/Discount is the percent difference between the Share Price and the NAV. There is no guarantee that you will receive the stated Premium/Discount and additional fees may result from individual broker fees and transactions costs in the secondary market.
Performance
Fund Performance
April | YTD | 1 Year | 3 Years | 5 Years | |
NAV | 1.32% | 7.85% | 49.14% | 4.52% | 8.69% |
Share Price | 1.87% | 10.78% | 57.76% | 5.44% | 9.06% |
Since inception date: 10/26/2012
March | YTD | 1 Year | 3 Years | 5 Years | Since Inception | |
NAV | 1.94% | 6.62% | 54.36% | 4.74% | 9.17% | 6.58% |
Share Price | 3.95% | 8.72% | 58.49% | 4.99% | 9.36% | 4.97% |
Since inception date: 10/26/2012
QTR | YTD | 1 Year | 3 Years | 5 Years | Since Inception | |
NAV | 6.62% | 6.62% | 54.36% | 4.74% | 9.17% | 6.58% |
Share Price | 8.72% | 8.72% | 58.49% | 4.99% | 9.36% | 4.97% |
Since inception date: 10/26/2012
Share Price and NAV History
as of 03/31/2021Data for the chart above reflects month-end.
Premium / Discount History
as of 03/31/2021Data for the chart above reflects month-end.
Before investing you should consider carefully the Fund's investment objectives, risks, charges and expenses.
Distributions
Distribution History
Ex Date | Record Date | Payable Date | Amount |
03/22/2021 | 03/23/2021 | 04/01/2021 | $0.1056 |
01/20/2021 | 01/21/2021 | 02/01/2021 | $0.1056 |
12/21/2020 | 12/22/2020 | 01/04/2021 | $0.1056 |
11/18/2020 | 11/19/2020 | 12/01/2020 | $0.1056 |
10/21/2020 | 10/22/2020 | 11/02/2020 | $0.1056 |
09/21/2020 | 09/22/2020 | 10/01/2020 | $0.1056 |
08/20/2020 | 08/21/2020 | 09/01/2020 | $0.1056 |
07/22/2020 | 07/23/2020 | 08/03/2020 | $0.1056 |
06/19/2020 | 06/20/2020 | 07/01/2020 | $0.1056 |
05/19/2020 | 05/20/2020 | 06/01/2020 | $0.1056 |
04/21/2020 | 04/22/2020 | 05/01/2020 | $0.1056 |
The Fund seeks to pay a distribution at a rate that reflects net investment income actually earned. A portion of each distribution may be treated as paid from sources other than net investment income, including but not limited to short-term capital gain, long-term capital gain or return of capital. The final determination of the source and tax characteristics of these distributions will depend upon the Fund’s investment experience during its fiscal year and will be made after the Fund’s year end. The Fund will send to investors a Form 1099-DIV for the calendar year that will define how to report these distributions for federal income tax purposes. For more information about a distribution’s composition, refer to the distribution’s press release or Section 19(a) notice.
Distribution Rate
as of 03/31/2021Share Price | 7.88% |
NAV | 7.27% |
IPO Information
Date | 10/26/2012 |
Share Price | $25.00 |
NAV | $23.83 |
CUSIP | 05617T100 |
Ticker | BGH |
1The Distribution Rate is based on the Fund’s most recent monthly distribution, annualized and divided by the Fund’s month-end Share Price or NAV.
Portfolio as of 03/31/2021
Portfolio Assets Composition
Quality Distribution
Ratings | % of Assets |
BBB | 0.61% |
BB | 20.19% |
B | 39.34% |
CCC AND BELOW | 36.92% |
NR | 2.94% |
Total | 100.00% |
Percentages of assets are expressed by market value including cash, short-term instruments and accrued income, and will vary over time. Ratings shown are the highest rating given by one of the following national rating agencies: S&P, Moody’s or Fitch. Additional information about ratings can be found at www.standardandpoors.com,www.moodys.com and www.fitchratings.com. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings categories used by S&P and Fitch; BB, B, CCC/CC/C and D are below investment grade ratings categories used by S&P and Fitch. Aaa, Aa, A and Baa are investment grade ratings categories used by Moody’s; Ba, B, Caa/Ca and C are below investment grade ratings categories used by Moody’s. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. Holdings designated Not Publicly Rated are not rated by these national rating agencies.
Top 5 Countries
Country | % of Assets |
UNITED STATES | 79.45% |
UNITED KINGDOM | 6.88% |
FRANCE | 2.88% |
CANADA | 2.87% |
ZAMBIA | 2.50% |
Total | 94.58% |
Capital Structure
Total Net Assets | $349 |
Total Assets | $531 |
Total Leveraged Assets | $156,950,000 |
Leveraged | 0.30% |
Weighted Averages
Market Price ($) | $93.33 |
Duration (Yrs) | 2.22 yrs |
Top 10 Holdings
Holding | % of Assets |
VERITAS | 4.15% |
FINASTRA (FKA MISYS) | 3.31% |
COMMSCOPE INC. | 2.53% |
FIRST QUANTUM MINERALS LTD | 2.50% |
BAUSCH HEALTH COMPANIES INC. | 2.43% |
BMC SOFTWARE | 2.09% |
KENAN ADVANTAGE | 2.05% |
CLARIOS (FKA POWER SOLUTIONS; PANTHER BF AGGREGATOR 2 LP) | 1.96% |
DIEBOLD NIXDORF | 1.94% |
CONSOL ENERGY INC (CONSOL MINING CORP) | 1.94% |
Total | 24.90% |
Holdings are subject to change.
Top 10 Moody's Industries
Industry | % of Assets |
OIL AND GAS | 15.21% |
MINING, STEEL, IRON AND NON PRECIOUS METALS | 11.04% |
DIVERSIFIED / CONGLOMERATE SERVICE | 8.63% |
TELECOMMUNICATIONS | 6.31% |
HEALTHCARE, EDUCATION AND CHILDCARE | 5.81% |
BROADCASTING AND ENTERTAINMENT | 4.77% |
ELECTRONICS | 4.36% |
AUTOMOBILE | 4.12% |
FINANCE | 3.19% |
AEROSPACE AND DEFENSE | 2.98% |
Total | 66.42% |
Percentage of assets are expressed by market value including cash and accrued income, and will vary over time.
Before investing you should consider carefully the Fund's investment objectives, risks, charges and expenses.
Documents
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Factsheet
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Portfolio Holdings
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Reports
- 2020 Annual Report Barings Global Short Duration High Yield Fund
- 2020 Semi-Annual Report - Barings Global Short Duration High Yield Fund
- 2019 Annual Report – Barings Global Short Duration High Yield Fund
- 2019 Semi-Annual Report - Barings Global Short Duration High Yield Fund
- 2012 Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2012 Semi-Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2013 Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2013 Semi-Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2014 Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2014 Semi-Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2015 Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2015 Semi-Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2016 Semi-Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2016 Annual Report – Barings Global Short Duration High Yield Fund
- 2017 Semi-Annual Report - Babson Capital Global Short Duration High Yield Fund
- 2017 Annual Report – Barings Global Short Duration High Yield Fund
- 2018 Semi-Annual Report - Barings Global Short Duration High Yield Fund
- 2018 Annual Report – Barings Global Short Duration High Yield Fund
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Fund Documents
- Audit Committee Charter
- Complaints or Concerns Regarding Accounting or Auditing Matters
- Form N-PX
- Nominating and Governance Committee Charter
- Proxy Statement
- Fund Proxy Voting Policy
- Adviser Proxy Voting Policy
- Fund Code of Ethics
- 2017 IRS Form 8937 Report of Organizational Actions Affecting Basis of Securities - Global Short Duration High Yield Fund
Before investing you should consider carefully the Fund's investment objectives, risks, charges and expenses.
News & Events
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